According to the company statement, the financial highlights for the period ended 30 September, 2021 included the total comprehensive income of £84.9 million. This is a huge surge when compared to the figures for 2020, which stood at £14.3 million.
“Over Q3 and despite some headwinds, we have largely maintained the momentum that was seen moving into 2021.”
Additionally, the company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were recorded at £88.8 million. Out of this, the Asset Management Platform generated a strong £55.1 million in Q3. A significant quarter-on-quarter increase from £11.3 million in the previous year during the same period.
What is noteworthy is gains of £45.9 million from the Group’s Capital Markets Infrastructure. Marie Mognetti added,
“…we continue to take advantage of the evolution seen in the wider industry and translate it into total comprehensive income and balance sheet growth.”
ccording to CoinShares’ Digital Asset Fund Flows Weekly until 22 October, the cryptocurrency industry also saw a record-breaking investment inflow of $1.5 billion.
In the context of the wider crypto market, Q3 2021 managed to subside the sluggish Q2. According to a report by CryptoRank, Q3 was a bullish quarter, with market capitalization rising above $2 trillion. Moreover, the total value locked in DeFi also surpassed $180 billion.
CoinGecko’s report noted that Bitcoin’s recovery, the introduction of “gaming coins,” and non-fungible tokens (NFTs) mainly drove the quarter in discussion. On the contrary, the trading volume seemed to have taken a hit in Q3 compared to the highs in May.
Meanwhile, Square Inc. has also reported its quarterly revenue. The company reported a gross profit of $1.13 billion in Q3, slightly less than what it clocked in Q2. It was reportedly on the back of slowing Bitcoin demand, which gained back “strength” in October.
Having said that, the State Of Blockchain Q3’21 Report also pointed towards a record-breaking Q3 in terms of crypto venture funding too.
Original Source :ambcrypto.com
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